The first exclusively U.S. state-focused exchange-traded funds are ready to launch, according to Oklahoma-based OOK Advisors.

The firm says it has been given the green light by the Securities and Exchange Commission to bring-to-market theTexas Large Companies ETF and the Oklahoma Large Companies ETF.

OOK Advisors says it’s targeting a launch date of around Sept. 18 for its initial two state-specific ETFs.

The Texas-focused fund is expected to use the “TXF” symbol and trade on the NYSE Arca exchange.  So will the Oklahoma ETF, which is set to trade under the “OOK” ticker.

Both funds are expected to come with annual gross operating expenses of 0.85%.

After the initial launches, OOK Advisors plans to also launch two ETFs which monitor small- and mid-cap Texan companies.

Both TXF and OOK will use benchmarks that weight constituents by market capitalization sizes, with positions modified to conform with liquidity restrictions and a cap of no more than 10% for any single name. The indexes will be rebalanced monthly.

TXF is based on the SPADE Texas Index (AMEX: TEXAS.X), a modified market capitalization weighted index that seeks to measure the performance of large cap publicly traded companies who have significant operation in Texas. Likewise, OOK is based on the SPADE Oklahoma Index (AMEX: OKLAH.X), focusing on Oklahoma's publicly traded companies.

The large-cap ETFs will use benchmarks developed by ISBC/SPADE Indexes LLC. It already is involved in the ETF marketplace. The PowerShares Aerospace and Defense Portfolio (NYSE Arca: PPA) is based on an ISBC/SPADE index.

The SPADE Oklahoma Index has jumped more than 20% year-to-date, strongly outperforming the S&P 500 index. The SPADE Texas Index, launched on July 22, is flat since inception, after falling nearly 5% in the recent market selloff.

SPADE Oklahoma Index components comprise banks such as Banc First, BOK Financial Group, and Alliance Holdings, as well as energy giant Chesapeake Energy and recent market debut Dollar Thrifty.

SPADE Texas Index components include Exxon Mobil, AT&T, Texas Instruments and Dell. Oklahoma is the country’s 29^th largest state by gross state product. Texas is the second-largest U.S. state by GSP.